The Economist says book publishers are rushing to cash in on the economic turmoil bubbling up across world markets:
Like any good bank in the pre-crash days, some publishers are splashing out to secure talent. Penguin’s American arm has been particularly eager, bagging four inky-fingered “stars” in the past month, reportedly at a cost of over $2m in advances.
The Economist notes that long publishing deadlines may prevent book publishers from capitalizing on the current flush of consumer interest (and worry), especially if the situation stabilizes. But traditional publishing’s burden is Web publishing’s gain: Beet.TV says The Wall Street Journal’s impeccably timed Web redesign coincided with record traffic, and there’s been a surge in interest for NBC, BBC and Reuters Web properties.